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Pound Goes Positive.

Sterling rose by 3½ cents against the dollar to $1.6928 after new survey data showed that manufacturing industry is growing again for the first time in more than a year. The Purchasing Manager's Index (PMI) for the sector, produced by Markit, rose from an upwardly-revised 47.4 points to 50.8 points in July. It is the first time it has surpassed the 50-level, which separates expansion from contraction, since March 2008.

The increase, which was far beyond what economists had anticipated, pushed sterling higher, along with gilt yields, since the PMI has often been a reliable signal for official measures of economic growth.

From the Daily Fail Labour wants to stop drinkers having more than a pint of beer a day – sparking fresh accusations that it is out of touch with ordinary Britons.

More from the Fail We're aloof and out of touch, says senior Tory MP DAVID DAVIS, who warns: 'Stay that way, and we'll lose election'
Weird, they know the correct answer, but refuse to allow themselves to acknowledge reality.